Today, we are riding the tides of digital transformation. In the face of a pandemic that has dramatically changed the market, digitalisation has played an important role in helping businesses weather the storm.
Experts predict that in the next decade, the Internet will be responsible for about 7% to 22% of China’s total GDP growth. Data from the China Academy of Information and Communications Technology indicates that between 2020 and 2025, commercial 5G use will boost China’s total economic output by approximately RMB 24.8 trillion. And it’s estimated that for each percentage point that domestic cloud use increases, China’s GDP will grow by around RMB 23.09 billion. Right now, the digital business is booming thanks to new industry models and innovations such as conferencing, remote offices and the touchless economy. In this macroenvironment bolstered by a new generation of digital technology, small and medium-sized enterprises that cling to traditional IT management will face a continuous threat of elimination. The only way to adapt to new developments in society is to embrace change.
In an era of reform and innovation, digital transformation is inevitable
Business technology innovation goes through three phases: informatisation, digitisation and Artificial Intelligence. However, many domestic enterprises in the Mainland have remained in the informatisation phase, relying solely on the Internet and basic office software to run their business and believing that it will be sufficient for their business needs. However, the pandemic has magnified the inherent weaknesses in this approach. Digital transformation is not simply useful for enterprises to grow and expand – it is essential.
Digitalisation is much more than incorporating Big Data, IoT and Artificial Intelligence (AI) into an existing business model. It means reshaping that business model at a core level to refine operations and improve internal management efficiency. These innovations and breakthroughs in your business model can reduce operation and maintenance costs and improve efficiency.
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